Molson Coors initiated with a Sell at Berenberg

Catch up on today's top five analyst downgrades with this list compiled by The Fly: Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Garmin (GRMN) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation and less likelihood for upside surprises throughout the remainder of 2017 due to tough comparisons. The analyst lowered his price target for the shares to $50 from $55. 2. Square (SQ) downgraded to Neutral from Buy at Guggenheim with the firm citing valuation and maintained a $20 price target on shares. 3. Tractor Supply (TSCO) downgraded to Perform from Outperform at Oppenheimer with analyst Brian Nagel citing concerns about the company's "modest" earnings growth could drive multiple contraction. The analyst thinks a guidance cut is likely when Tractor reports second quarter results in July. 4. Molson Coors (TAP) downgraded to Hold from Buy at Societe Generale with analyst Andrew Holland saying investments will impact margins. 5. MEDNAX (MD) downgraded two notches to Underperform from Buy at BofA/Merrill with the firm's analyst citing concerns cost pressures and worsening top line trends. The analyst lowered its price target to $57 from $75. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

05/04/17

FBCO

05/04/17NO CHANGETarget $95FBCONeutral

Molson Coors price target lowered to $95 from $106 at Credit Suisse

Credit Suisse analyst Credit Suisse lowered his price target for Molson Coors to $95 from $106 after Q1 results disappointed investors as sales were broadly in line but EBITDA declined nearly 4% due to an unexpected spike in MG&A costs that management said was attributed to "investing ahead of the curve." The analyst reiterates a Neutral rating on the shares.

Soceite General analyst Andrew Holland downgraded Molson Coors to Hold from Buy and lowered its price target to $98 from $117 saying investments will impact margins. Molson's CEO said 2017 is a "transition" year as the company invests in several areas that should improve competitiveness, but will largely offset the cost savings from the Miller integration, the analyst believes. Holland cut Molson earnings estimates to reflect the increased spend and said concerns over US trade and Mexico and Ingredion's performance are concerning.

04/20/17

04/20/17DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Amazon.com (AMZN) downgraded to Peer Perform from Outperform at Wolfe Research with analyst Scott Mushkin saying shares are approaching his price target and he expects increasing competition through year-end. 2. Time Warner (TWX) downgraded to Hold from Buy at Pivotal Research with analyst Brian Wieser saying shares are trading near the value of AT&T's (T) offering price. 3. Molson Coors (TAP) downgraded to Market Perform from Outperform at Cowen with analyst Vivien Azer citing expectations for persistent beer volume headwinds. The analyst believes alcohol consumption could be pressured for at least the next decade, partly due to increased cannabis use, and a contraction in the alcohol cycle. Azer said Molson is uniquely exposed to the increasingly vibrant and growing cannabis markets and notes there is an inverse relationship between cannabis use and alcohol consumption over time. 4. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi with analyst James Cakmak saying he sees insufficient upside to estimates to justify the lofty valuation. The analyst said the path to double-digit growth may be pushed out 2019 and limited potential to outperform topline expectations in 2017. Further, the analyst sees margin pressures from product mix towards StubHub and rising development spend for the backend, and limited opportunities for multiple expansion. 5. Ruth's Hospitality (RUTH) downgraded to Market Perform from Outperform at Raymond James with analyst Brian Vaccaro citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

UP AFTER EARNINGS: Cintas (CTAS), up 2.9%... Micron (MU), up 2.8%. ALSO HIGHER: Editas Medicine (EDIT), up 3.1% after it received the EMA's orphan medicinal product designation for EDIT-101... Twitter (TWTR), up 1.8% after it said it will start testing longer, 280-character tweets with a small group. DOWN AFTER EARNINGS: Nike (NKE), down 3.2%. ALSO LOWER: Kornit Digital (KRNT), down 12.2% after it cut its third quarter revenue guidance... Westlake Chemical Partners (WLKP), down 8.3% after it filed to sell 4.5M units for limited partners... Intra-Cellular (ITCI), down 7.2% after it filed to sell $150M in common stock... Ascendis Pharma (ASND), down 4.3% after it announced an offering of $125M of ADSs.